Spectral Medical Inc. Announces Closing of First Tranche of $14.0 Million Convertible Note Private Placement, Conversion of US$4.5 Million of Maturing Convertible Notes and Repayment of US$4.5 Million of Maturing Convertible Notes

TORONTO, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a Phase 3 company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”), is pleased to announce the closing of the first tranche of a $14.0 million private placement offering (the “Offering”) of convertible unsecured notes (the “2026 Notes”) due on November 1, 2031 (the “Maturity Date”), and the conversion of an aggregate of US$4.5 million (approximately $6.3 million) of maturing convertible notes, and the repayment of an additional US$4.5 million (approximately $6.3 million) of maturing convertible notes. All dollar amounts in this news release are in Canadian dollars unless otherwise stated.